Gibraltan motor insurer loses COO

Gibraltar-based motor insurer Collingwood Insurance Company has announced the departure of chief operating officer Andrew Stone.

Collingwood chief executive Alan Beenshill said: "Andrew came in to help us in the move to become self managed in Gibraltar and over the past 2 years has helped lay firm foundations for the business to build on.

"He presided over the transfer of Thomond Insurance Company into Collingwood in 2010 and has put in place a comprehensive corporate governance structure that paves the way for Collingwood’s planned growth and compliance with Solvency II requirements.

"Andrew leaves us in good shape and we wish him well with his future plans."

It is understood that Collingwood is up for sale and has attracted a number of interested parties, as reported in Insurance Times last month.